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Some officials in the European Union are proposing a formal restructuring system for its member countries.
The EU's next constitutional conference is likely to propose a formal restructuring of the commission into a two-tier hierarchy.
Officials emphasized that no formal restructuring plan exists, and that any structural change in the bureau's mission might require Congressional approval.
European rules only permit European nations to bail out companies if it is done under market conditions, or if it is part of a formal restructuring.
Those negotiations, and the litigation that often goes with them, are now mostly concluded in the Vallejo case, and the city hopes that the formal restructuring plan it just submitted will let it emerge from bankruptcy by summer.
He will meet fierce Franco-German resistance, but Ireland is another prompt for the EU, and Germany in particular, to look at a broader, formal restructuring (including Greece and probably Portugal).
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"Past Due" means a loan is determined to be delinquent in relation to its contractual repayment terms including formal restructures, and must consider the time value of money.
After a formal restructure of a member business loan, if the restructured loan has been returned to accrual status, the loan otherwise remains subject to the nonaccrual standards of this policy.
Restore to Accrual on Member Business Loan Workouts Formal restructure with a current, well documented credit evaluation of the borrower's financial condition and prospects for repayment under the revised terms The evaluation must include consideration of the borrower's sustained historical repayment performance for a minimum of six timely consecutive payments comprised of principal and interest.
To qualify for HIPC, countries must submit to a formal IMF restructuring programme.
Officials throughout Europe continue to say that the plan for Greece is sufficient and there is no need for a broader aid proposal or a formal debt restructuring in any afflicted countries.
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